Did you think you had to have PPI on your credit card?

Payment Protection Insurance policies are COMPLETELY optional. CPS specialise in getting your PPI charges refunded plus compensatory interest!

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Automatically added to your application?

  • PPI was often automatically added to your credit card application and are rarely clearly explained that it is not a necessary part of the card application. This is especially true with online or over the phone applications.


A little can turn into a lot

  • Known as ‘Peace of Mind Plan’, ‘Card Repayment Protector’, ‘Accident Sickness, Life & Unemployment Cover’, or simply ‘Payment Protection Insurance’, these policies insure making your card payments if you’re not able to do so, each with its own specific criteria for you to qualify for cover.
  • These policies may seem harmless only charging a few percentage points based on your account balance but as your balance increases and the years go by they can amount to thousands of pounds in fees with seemingly little real benefit.

For Example in March 2014 a CPS client received a PPI refund on their Barclaycard they have had since 2001 of £20,769.99

  •   The actual PPI refunded was: £7397.75
  •   The refund for interest charged on the premiums: £10551.97
  •   And the 8% added compensatory interest after tax £2820.27

So as you can see the added interest and compensation can often double your PPI refund.

  • We will not only get you a full refund on the monthly PPI fees for as long as you have had the card, but we will also get you a refund of the interest charged associated with the PPI. This is how much debt you would have paid off your card balance had your payments not been deflected by the monthly PPI charge.
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